Cathie Wood, Ark Invest’s chief executive officer and chief investment office, supports her bold claim that Bitcoin will hit $ 500,000. In the same interview, Wood revealed her company’s increasing trust in Ethereum after the 2.0 update, as well as potential plans for a realignment between the top two cryptocurrencies.
Cathie Wood from Ark Invest on the realignment of the Bitcoin and Ethereum portfolios
Cathie Wood, CEO of Ark Invest, is a major figure in the crypto space and even recently joined Jack Dorsey and Elon Musk in the B-word debate. As her company’s chief investment officer, any calls she makes are especially noteworthy.
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In the past, she has speculated that Bitcoin would hit $ 500,000. And at the recent SALT conference, Wood repeated the call to CNBC anchor Andrew Ross Sorkin.
The prediction depends on institutes allocating only 5% of their total portfolio to Bitcoin. Should that happen, Wood believes “the price will be ten times what it is today,” she said. “So instead of $ 45,000 over $ 500,000.”
What $ 500,000 BTC looks like | Source: BLX on TradingView.com
Wood said if she could just pick one cryptocurrency, it would use Bitcoin by default, but then praised Ethereum for its recent growth.
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“Our confidence in ether increased dramatically as we saw the beginning of this transition from proof of work to proof of stake,” said Wood. However, Ark’s CEO said the company would “likely make 60% Bitcoin, 40% Ether” going forward in order to keep the portfolio’s focus on BTC.
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